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(U0): Uptrend Remains Intact

JGB TECHS
  • RES 3: 153.06 - High Mar 31 and key resistance
  • RES 2: 152.77 - 200-dma
  • RES 1: 152.50 - High Jul 17 and the bull trigger
  • PRICE: 152.34 @ 16:29 BST, Jul 30
  • SUP 1: 151.57 - Low Jul 2 and key support
  • SUP 2: 151.26 - Jun 8 low
  • SUP 3: 150.61 - Low Mar 19 and key support

JGBs are holding onto recent gains that have recently further cemented the uptrend since the early July low. The recent break of 152.29, Jun 12 and Jul 13 high confirmed a bullish price sequence of higher highs and higher lows reinforcing the current positive theme. Continued gains would pave the way for a climb towards the 200-dma at 152.77 as well as the longer-term target of 153.06. Key support has been defined at 151.57, Jul 2 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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